- January data is in. The big story is median prices which dropped 13% from $234,000 to $208,000 (the biggest month over month decline in a long time).
– - At the neighborhood level, Queen Anne and Magnolia had the toughest January with a 20% drop in median prices. Ballard and Greenlake, on the other hand, had a stronger showing with median prices rising 18% from December 2011 to January 2012.
– - One encouraging spot is pending sales in January were up 6% compared to December 2011. Also, despite Queen Anne/Magnolia median price pressure, pending sales were up 50% from December to January.
By Wendy Leung with Seattle Condo Review. A guide to Seattle condos exclusively for buyers and sellers.
Sigh. I was hoping to see the inventory drop by another 100 units.
Despite the price decrease, it does seem that price per sq ft went up. Is that accurate? With such a small amount of sales, small differences in random things can appear to be more than they are. Perhaps we shouldn’t be so worried about the median price decrease.